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Jedd Nabonsal

Lender paid closing costs

Friday, October 7, 2011 - Article by: Jedd Nabonsal - Priority Financial Network - Message

Paying for the closing costs can be quite expensive for any type of Real estate financing. Lender's fees, Escrow, Title insurance, and the appraisal, are always basics that need to be paid somehow. On an FHA purchase one lender just required 9 months of property taxes to be paid up front, to cover the current tax bill at the old assessed value, plus 3 months for impounds. On a large transaction this can be a lot of money. Current lender wholesale pricing provides large rebates available to borrowers to pay for some or all of these costs. On an FHA loan, the lender credit can be used to pay such items as impounds for taxes and insurance. Even on Conventional Fannie Mae loans the lender credit can be used to pay such things as pre-paid interest on the new loan for the "odd days" interest paid in advance. There are excellent no points/no cost loan programs available at rates never before available.

Jedd Nabonsal MLO # 368668 Pinnacle Bancorp Cell 310-433-1703

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